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Shareholders' Equity and Compensation Plans (Tables)
12 Months Ended
Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Various Information
At December 31, 2024 and 2023, the Company has reserved the following shares of its authorized but unissued common stock for possible future issuance in connection with the following:
December 31,
20242023
Outstanding performance units (maximum issuance)363,070 273,202 
Outstanding RSU’s297,122 290,141 
Outstanding options510,812 333,608 
2018 Stock Incentive Plan290,841 732,427 
Non-Management Director Plan104,145 130,162 
2018 Employee Stock Purchase Plan399,289 447,655 
Total1,965,279 2,207,195 
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following table presents the changes in accumulated other comprehensive income (loss) after-tax by component:
($ in thousands)Net Unrealized Gain (Loss) on Available-for-Sale Debt SecuritiesUnamortized Gain (Loss) on Held-to-Maturity SecuritiesNet Unrealized Gain (Loss) on Cash Flow HedgesTotal
Balance, December 31, 2021$5,271 $15,684 $(2,178)$18,777 
Net change(149,623)(2,696)3,210 (149,109)
Transfer from available-for-sale to held-to-maturity(197)197 — — 
Balance, December 31, 2022$(144,549)$13,185 $1,032 $(130,332)
Net change31,705 (2,605)217 29,317 
Balance, December 31, 2023$(112,844)$10,580 $1,249 $(101,015)
Net change(9,288)(2,492)(3,923)(15,703)
Balance, December 31, 2024$(122,132)$8,088 $(2,674)$(116,718)
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The following table presents the pre-tax and after-tax changes in the components of other comprehensive income:
202420232022
($ in thousands)Pre-taxTax effectAfter-taxPre-taxTax effectAfter-taxPre-taxTax effectAfter-tax
Change in unrealized gain (loss) on available-for-sale securities$(12,351)$(3,063)$(9,288)$42,988 $10,833 $32,155 $(200,030)$(50,407)$(149,623)
Reclassification of gain on sale of available-for-sale securities(a)
— — — (601)(151)(450)— — — 
Reclassification of gain on held-to-maturity securities(a)
(3,314)(822)(2,492)(3,483)(878)(2,605)(3,605)(909)(2,696)
Change in unrealized gain (loss) on cash flow hedges(6,949)(1,723)(5,226)(656)(165)(491)3,741 943 2,798 
Reclassification of loss on cash flow hedges(b)
1,731 428 1,303 945 237 708 551 139 412 
Total other comprehensive income (loss)$(20,883)$(5,180)$(15,703)$39,193 $9,876 $29,317 $(199,343)$(50,234)$(149,109)
(a)The pre-tax amount is reported in noninterest income/expense in the Consolidated Statements of Income.
(b)The pre-tax amount is reported in interest income/expense in the Consolidated Statements of Income.
Share-based Payment Arrangement, Cost by Plan [Table Text Block]
The following table summarizes share-based compensation expense:
For the year ended December 31,
($ in thousands)202420232022
Performance stock units$2,898 $2,879 $2,391 
Restricted stock units5,341 5,014 4,156 
Stock options2,110 1,609 916 
Employee stock purchase plan523 644 543 
Total share-based compensation expense$10,872 $10,146 $8,006 
Outstanding Long Term Incentive Awards [Table Text Block]
Information related to the outstanding grants at December 31, 2024 is shown below:
($ in thousands, except per share data)2022 - 2024 Cycle2023 - 2025 Cycle2024 - 2026 Cycle
Shares issuable at target41,765 56,424 83,346 
Maximum shares issuable83,530 112,848 166,692 
Unrecognized compensation cost$92 $767 $2,156 
Weighted average grant date fair value (per share)$51.91 $62.19 $38.84 

Maximum Shares IssuableWeighted Average Grant Date Fair Value
Outstanding at December 31, 2023
273,202 $54.82 
Granted166,692 38.84 
Vested (issued 64,582 shares)
(76,824)47.16 
Outstanding at December 31, 2024
363,070 $49.10 
Summary of Employee Stock Option and SSARs Activity
Following is a summary of stock option activity for 2024.
SharesWeighted
Average
Exercise Price
Weighted
Average
Remaining
Contractual Term
Outstanding at December 31, 2023
333,608 $49.11 
Granted204,853 39.50 
Exercised(12,433)45.58 
Forfeited(15,216)45.84 
Outstanding at December 31, 2024
510,812 $45.43 8.0 years
Exercisable at December 31, 2024
140,375 $46.02 6.6 years
Summary of Restricted Stock Units Activity
A summary of the status of the Company’s RSU awards as of December 31, 2024 and changes during the year then ended is presented below.
SharesWeighted Average Grant Date
Fair Value
Outstanding at December 31, 2023
290,141 $48.69 
Granted140,359 41.52 
Vested(116,886)47.22 
Forfeited(16,492)45.22 
Outstanding at December 31, 2024
297,122 $46.07 
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions
The following weighted average assumptions were used for grants issued during the years ended December 31, 2024, 2023, and 2022.
Weighted Average
For the year ended December 31,
202420232022
Risk Free Interest Rate4.27%4.09%1.95%
Expected Dividend Yield2.53%1.84%1.74%
Expected Volatility35.79%34.74%34.54%
Expected Term (years)6.26.36.2
Restricted Stock Units (RSUs) [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Various Information
Various information related to the RSUs is shown below.
At or for the year ended December 31,
($ in thousands except per unit data)202420232022
Total fair value of awards vesting during the year $4,919 $3,894 $3,888 
Unrecognized compensation cost 8,328 8,438 8,507 
Expected years to recognize unearned compensation1.5 years1.7 years2.0 years
Weighted average grant date fair value per unit$41.52 $50.46 $47.96 
Stock Plan for Non-Management Directors  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Various Information
Various information related to the Director Plan is shown below.
At or for the year ended December 31,
202420232022
Shares granted28,993 27,016 23,343 
Weighted average grant date fair value$41.10 $41.31 $42.17